Kochi: After exceeding the targets for its first phase of operations (2011-15), the Startup Village in Kochi is set to launch the second phase, during which it will scale up operations across the country by aligning itself with the Prime Minister’s ‘Startup India’ programme.
“In Phase I, we succeeded in creating a seed entrepreneurial ecosystem in Kerala. In the next five years we plan to support 10,000 campus start-up teams across the country, completely digitize the incubation process and launch a new business model,” said Sanjay Vijayakumar, Chairman, Startup Village. A detailed report on the successful completion of Phase I had been submitted to the Department of Science and Technology (DST), Government of India.
Startup Village, India’s first PPP technology business incubator, had also taken inputs for Phase II expansion based on an independent Third Party audit by Prof. Rakesh Basant, who teaches economics at IIM Ahmedabad.
“Startup Village has managed to build a momentum for an entrepreneurial culture in Kerala and has begun to create an entrepreneurial eco-system. The challenge is to sustain this momentum, scale-up and become financially self-sustaining,” Prof Basant noted in his report.
“As Startup Village moves to the next phase, I want to congratulate the Kerala Government on the pioneering initiatives it took to foster the start-up environment in Kerala,” said Infosys co-founder & Startup Village mentor, Kris Gopalakrishnan.
Sanctioned in 2011 by the DST, Startup Village was set up with the aim of incubating 48 startups over a period of five years.
“Going much beyond its established targets, Startup Village experimented with an array of new bold ideas, which have created not just an incubator but a robust startup ecosystem in Kerala. We are now on the cusp of implementing an ambitious plan to spread its ethos at the national level and produce startups straight from schools and colleges,” said Vijayakumar.
A major feature of the expansion plan is complete digitization of the incubation process – right from application process to admission, allocation of resources, learning, funding, connecting to mentors and experts, integration with university education and final graduation. The incubator has received over 7,000 applications, making it imperative to digitize its operations.
Kerala IT News